|
EconStor >
Rheinische Friedrich-Wilhelms-Universität Bonn >
Zentrum für Europäische Integrationsforschung (ZEI), Universität Bonn >
ZEI Working Papers, Zentrum für Europäische Integrationsforschung, Universität Bonn >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/39559
|
| | |
| Title: | | Inflationary performance in a monetary union with large wage setters  |
| Authors: | | Cavallari, Lilia |
| Issue Date: | | 2001 |
| Series/Report no.: | | ZEI working paper B 11-2001 |
| Abstract: | | Building on a micro-founded model of a two region-world economy in the tradition of the new open economy literature, this paper analyses the strategic interaction of large wage-setters and the central bank when switching from a regime of uncoordinated national monetary policies to a monetary union. The establishment of a monetary union is shown to favour wage restraint, provided the uni…ed central bank is not too conservative. Wage discipline may reduce equilibrium in‡ation in a monetary union relative to the one under uncoordinated national monetary policies when wage setting is centralised across member countries. |
| Subjects: | | monetary union wage bargaining inflationary bias |
| JEL: | | E5 F4 |
| Document Type: | | Working Paper |
| Appears in Collections: | | ZEI Working Papers, Zentrum für Europäische Integrationsforschung, Universität Bonn
|
| |
| | |
Download bibliographical data as:
BibTeX
|
| |
Share on:http://hdl.handle.net/10419/39559
|
Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.
|